Article: NEW WORLD COMMUNICATIONS GROUP & HACHETTE FILIPACCHI MAGAZINES FORM JOINT VENTURE; PREMIERE PUBLISHING CO. LLC TO ACQUIRE PREMIERE MAGAZINE

NEW YORK, May 22 /PRNewswire/ -- New World Communications Group Incorporated (Nasdaq: NWCG) and Hachette Filipacchi Magazines have formed a joint venture, PREMIERE Publishing Co. LLC, which has agreed to acquire PREMIERE magazine from K-III Communications Corporation. The sale closes in June. The announcement was made today by David J. Pecker, President, Chief Executive Officer and Chief Operating Officer of HFM, and William C. Bevins, CEO of New World Communications Group Inc.

Under the terms of the joint venture, HFM, a wholly owned subsidiary of Hachette Filipacchi Presse, will manage the production of PREMIERE in magazine format while New World will use the ...

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